skinny.

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Fate of the union

Trump’s uneven tariff guidance provides little clarity before his State of the Union speech, and a sharp tech-led decline hits Wall Street as investors digest a viral worst‑case AI report. Meanwhile, Novo Nordisk drops 16% after its latest obesity drug disappoints in trials.

Today’s recommended read: **Next Fed move a hike? Bostic's parting shot raises alarm, Mike Dolan**

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The skinny

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